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. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to tease for friday, which is i am -- i got to buy the farm. get it. think we haven't heard that. >> bob: promote something? >> dana: on friday, tomorrow i'm going to vegas and i'm going to the national rodeo -- the national finals rodeo sponsored by wrangler. i went last year and i got to interview the rodeo queen. the new rodeo queen this year and talk to a few other people and chance to go to the rodeo and see my family. >> eric: that's nice. >> dana: that's it? "that's nice." >> kimberly: it sundays fun. you know how to ride a horse. >> bob: ride a bull. >> dana: we
. >> dana: i have something also about the fiscal cliff. something you haven't heard about is rural america is under threat from a major raise in taxes. death and state taxes. throw up the map. senator from wyoming put this out. 526,421 family farms threatened by the new death tax. mostly because assets are tied up in land. you're land rich and cash poor. this hurts a lot of people. >> greg: this plays in the old phrase buying the farm. >> dana: it plays in something i want to...
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fiscal cliff? can't we call it something else? >> dana: sure. >> eric: monetary -- >> greg: liberal fantasy. >> bob: one more thing on the table. can obama sell cuts in entitlements to his senate? >> dana: not acarding to harry reid. >> eric: leave it there. we'll stay on it. don't go away. more on developing news washington, including ambassador susan rice. we'll get on that when we come back. ♪ ♪ ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move to the country, d live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. often comes with a set of equally impressive instructions ? shouldn't something that's
fiscal cliff? can't we call it something else? >> dana: sure. >> eric: monetary -- >> greg: liberal fantasy. >> bob: one more thing on the table. can obama sell cuts in entitlements to his senate? >> dana: not acarding to harry reid. >> eric: leave it there. we'll stay on it. don't go away. more on developing news washington, including ambassador susan rice. we'll get on that when we come back. ♪ ♪ ♪ [ male announcer ] this is karen and jeremiah. they...
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>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of walmart customers knew about the fiscal cliff. one week after the election, 75% of their shoppers know about the fiscal cliff and 15% say it means they will spend less on christmas. it's pre-telling, right? >> apparently the walmart shopper is more informed than the average american. we showed 70%. that's out there. it's something that affects people. it was clear in the data there was an effect of the fiscal cliff on overall economic attitudes. the more important thing we found is that it affects businesses and businesses slow down in capital spending. you're an economic student and you
>> the fiscal cliff is something he will talk about, say they have to solve this. he's talked before about the upside and said twice already the federal reserve cannot off-set the effects of the fiscal cliff. the fed could -- one idea -- the fed could keep a little bit of powder dry if we do go off the cliff, the fed has something it could do. >> mike duke last night the ceo of walmart spoke and he sa said -- they poll their shoppers all the time. a week before the election, 25% of...
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i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to work in the most efficient way. liz: good to see you gentlemen, thank you very much. never gets boring around here on fox business lackluster retail sales from the fed announcement yesterday turning on the stick is beginning next month painted the market red leaving me wondering if high investors, the smart money might be changing their investment strategy. we thought we would bring in, millions of dollars, they want to see the money grow. joining us in a fox business exclusive. you seem like a very measured person, that is why you have a lot of wealthy clients because you must do well for them. aft
i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to...
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cliff. >> we can't sit here and try to figure out what works for them. >> we look forward to the time when they are specific. >> they need to be more specific. >> they have to be willing to come to the table with specifics. >> we've not had any discussion and specifics with this president about the real problem. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> i will not play that game. >> further apart than ever. you've heard endless arguing about higher taxes on the rich. let's set that aside and talk about the sequester the budget wonk word for a thing that will touch every american. $1.2 trillion in automatic budget cuts over the next decade, 100 billion next year alone, half in defense and half in non-defense, defense programs cut by 9.4% across the board and non-defense programs 8.2%. agencies are being told to identify the cuts. how will you feel them? fewer food inspections are likely. cdc budget cuts could make it harder to track food bo
cliff. >> we can't sit here and try to figure out what works for them. >> we look forward to the time when they are specific. >> they need to be more specific. >> they have to be willing to come to the table with specifics. >> we've not had any discussion and specifics with this president about the real problem. >> we need a response from the white house. we can't sit here and negotiate with ourselves. >> i will not play that game. >> further...
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. >> to show you how seriously we are, up next, the fiscal cliff. it could last forever apparently. the scary prediction is next in the guest spot. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate increases ] man: a few inches of water caused all this? [ heart rate increases ] woman #2: but i don't even live near the water. what you don't know about flood insurance may shock you -- including the fact that a preferred risk policy starts as low as $129 a year. for an agent, call the number that appears on your screen. hi, i'm ensure clear... clear, huh? i'm not juice or fancy water. i've got nine grams of protein. that's three times more than me! [ female announcer ] ensure clear. nine grams protein. zero fat. in blueberry/pomegranate and peach. >> every day we are closer to the fiscal cliff. >>
. >> to show you how seriously we are, up next, the fiscal cliff. it could last forever apparently. the scary prediction is next in the guest spot. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. woman: what do you mean, homeowners insurance doesn't cover floods? [ heart rate...
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Dec 12, 2012
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. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ ♪ [ male announcer ] while you're getting ready for the holidays, we're getting ready for you. tis the season. for food, for family, and now, something extra -- for you. come pre-filled with problems. enough is enough. introducing the chase liquid reloadable card. with chase liquid, there's no waiting and no fee to activate you can load cash and checks at any chase depositfriendly atm and th
. >> coming up, the last fed decision of the year and the final one before the fiscal cliff deadline. stay tuned for breaking news coverage of the fed decision on interest rates. it's a cnbc special report, and it's starts after this short break. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place....
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as far as the fiscal cliff. were talking about using something is coming, you think that is good news. >> there is always the inside game and the outside game. they will talk to their base and their constituents. they have to get something by the 18th which is next tuesday so they can vote an on it. the matter what it is, something will be coming out of there. nicole: something will be better than nothing out of washington. that is the latest. he sounds pretty happy at least at the moment. today he is positive. tracy: here is a glass half full. we will take it. ashley: thanks, guys. looking at the old tea leaves of what is going to happen with speaker boehner taking the house floor with 20 days until we fall off the fiscal cliff he says it is time for president obama to get serious. really? rich edson in d.c. for all of this. >> actually somebody has to be positive, right? in d.c. we are not getting it right now. sources are looking at these meetings and saying there is essentially no move in it the last couple
as far as the fiscal cliff. were talking about using something is coming, you think that is good news. >> there is always the inside game and the outside game. they will talk to their base and their constituents. they have to get something by the 18th which is next tuesday so they can vote an on it. the matter what it is, something will be coming out of there. nicole: something will be better than nothing out of washington. that is the latest. he sounds pretty happy at least at the...
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cliff negotiations that. is something that the republicans have to deal with. and i think the republicans and making sure that the debt ceiling is extended for a long time because the one thing that could hurt the economy even more than going off some curb or cliff or slope is if we had a rep tilgs of the debt ceiling battle that we had in 2011. >> so in your view right now, you think that we're past -- potentially past the tax reform question? it's about not the stimulus money but the debt ceiling negotiation and it's important because many communities are not impacted by private sector job growth and need the public sector jobs that the stimulus would bring. >> yes. i think that, you know, you can't declare something done until it's done. but i think all of the signals you're getting from the republicans is that they realize that the last thing they need to be doing right now is to look like they are holding up middle class tax cuts to protect tax cuts for the very wealthy. that's not where they want to be
cliff negotiations that. is something that the republicans have to deal with. and i think the republicans and making sure that the debt ceiling is extended for a long time because the one thing that could hurt the economy even more than going off some curb or cliff or slope is if we had a rep tilgs of the debt ceiling battle that we had in 2011. >> so in your view right now, you think that we're past -- potentially past the tax reform question? it's about not the stimulus money but the...
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simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for it. debt doesn't matter. >> bob: respond to the social security thing. >> eric: obama in october of 2008 before he was president obama. season. >> the way bush has done it, over the last eight years is to take out a credit cardback of china in the game of the children, driving up the national debt. that is irresponsible and unpatriotic. >> eric: unpatriotic. $5 trillion in debt. president obama will add ten, 11, 12 trillion in debt. when he is done with this. >> for years, president obama running when he was senator, running for president always said that the bush tax cuts were only for the rich and only ben
simpson, if we go up the fiscal cliff simpsons are hit the hardest. the taxes go up 9,000%. writers of the simpson, the taxes will skyrocket. this isn't a joke. >> bob: you are right. but this is not going to happen. there is adjustment to social security. real cuts. >> eric: you know what -- >> bob: can i say something? >> eric: you add ornaments to add things. in obama added this little thing the other day. he said i don't want a debt ceiling or bound like it going for...
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but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we need wages that grow as fast as inflation or faster than inflation. >> how do you get that? >> well, it is difficult. i think we've got to stop the outsourcing of good paying manufacturing jobs and rebuild those kind of industries. many of them were in urban communities that gave people who may not have had a college education a chance with a good skill to earn a good living. take care of their family. we've seen -- really we've lost so many of those jobs by outsourcing. it was good news this week -- >> when you hear apple saying they're going to build a factory -- >> cong
but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we...
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its controversial tax credit could go over the fiscal cliff. >> when swind placed on the surface of the earth, you can get something like 20 times the amount of power that civilization now uses. >> reporter: ken caldera authored a new study that claims wind is the way. >> the wind you can't power civilization on wind today has to do with economics and engineering. >> reporter: he points for history. >> one of the reasons why fossil fuels are cheap is that they have received large subsidies from the federal government. >> reporter: right now wind power gets a subsidy, too. $1 billion a year from uncle sam. but that could vanish december 31st when the country hits the fiscal cliff. to caldera, that's the short-run risk. in the long run, he sees a clear, if not political pristine, path to more reliance on wind power. >> i think we'll eventually get to the point where we see a need for technologies that can provide energy, essentially forever, with minimal environmental cost. >> a final check on the markets when we return after this. ♪ ♪ ♪ ♪ [ male announcer ] 'tis the season to dis
its controversial tax credit could go over the fiscal cliff. >> when swind placed on the surface of the earth, you can get something like 20 times the amount of power that civilization now uses. >> reporter: ken caldera authored a new study that claims wind is the way. >> the wind you can't power civilization on wind today has to do with economics and engineering. >> reporter: he points for history. >> one of the reasons why fossil fuels are cheap is that they have...
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of our minds here, the fiscal cliff. and i would be remiss if i didn't ask you both to weigh in on it. but in the following way, number one, what's going on that we don't understand? number two, what should happen? number three, what's the r.s.c. going to do to help us get to that better state of what should happen? either one of you wants to chime in on that one? >> first of all, you know, if you look at where we are right now, it's because of a number of reasons. jim touched on a few of them, going back to the debt ceiling deal. i did not vote for the budget control act. to me it didn't address the real problem and that's spending. if you look at the debate right now, it's mostly about the debate of how much faxes we need to raise. the president keeps adding more to it because he has an insatiablet appetite to add more. we are not addressing the real problem. i don't think anybody's taxes need to go up. you look at what barack obama said three years ago. if you raise taxes in a bad economy it will make things worse. we
of our minds here, the fiscal cliff. and i would be remiss if i didn't ask you both to weigh in on it. but in the following way, number one, what's going on that we don't understand? number two, what should happen? number three, what's the r.s.c. going to do to help us get to that better state of what should happen? either one of you wants to chime in on that one? >> first of all, you know, if you look at where we are right now, it's because of a number of reasons. jim touched on a few of...
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that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it is on the poor or the other americans doesn't solve the problem. let's get in and figure out what the key problems are and solve those. i made an analogy earlier to giving a kid more allowance. i stopped paying them. >> i mean un believable. so kate, middleton, is in hospital with this morning sickness and revealed that she is pregnant and some dumb aussie dejay rings up with this accent and they think it is the queen of england land. have you ever heard of something so ludicrous? >> i thought it was you. >> of all the problems in the world this is not the most serious one. >> obviously, they are no
that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it...
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>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak with speaker boehner yesterday on the phone. we know nothing about the call except they talked on the phone. we do know that the last offer, the counteroffer was made by the republicans. they're waiting for the white house. the white house at the same time says come on, we don't have another counteroffer because your last offer was a stinker. you, republicans, need to come up with a new one. >> gretchen: the thing is, they're playing hard ball right now. the white house has sent out tim geithner, the treasury secretary, instead of the president actually, to lead the negotiations and when he was asked yesterday in an intervi
>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak...
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how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more words than action. >> they've been using that very effectively. and it actually moves markets. just the language. >> he didn't buy one bond. he said three words and spanish and italian yields drops three basis points. >> what were the three words? >> whatever it takes. >> that's good. markets like whatever it takes, i guess. rick santelli, loeet's talk job. that's tomorrow. some noise in this report. early thanksgiving, hurricane sandy. is this rally at the end of the day having anything to do with any anticipation of the jobs report? what are you looking for? >> no, i do
how are you navigating this anticipation of the fiscal cliff and beyond? >> i think ben is on to something in terms of the effectiveness of it. over the last few years, monetary policy was a catalyst to move money into the marke on a capital allocation basis. you saw the jolt in the market, then it plateaued. heading into next yeerar, monety policy becomes part of the base. the jolt is fiscal policy. a little transparency on that front. the big switch is on. i think they going to use more...
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ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support them. >>> and "the daily show's" jon stewart says maybe we should go off the fiscal cliff. >> back and forth of offers. it's pretty clear the republicans aren't going to come to the table with anything reasonable. i'll be the one to say it, i know it will be disastrous and doom our economy for years to come, let's go over the [ bleep ] cliff. fine. just leave the negotiating tables and send us over the cliff. you know why? at least for a few seconds, it will feel like we're flying. >> all right. that's going to wrap things up for me today. thanks for your time. see you back here tomorrow at 11:00 e
ted nugent weighs in on the fiscal cliff fiasco something he said we drove off a long time ago. he writes in "the washington times" social security, medicaid and medicare spending needs to be slaughtered and let's stop the insanity of the right to vote of any american on welfare. once they get off well taer and are self-sustaining they get their right restored. no american on welfare should have the right to vote for tax increases on those americans working and paying taxes to support...
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the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch the right, it the more it looks like something is going to have to budge over there. you look at the pugh poll that came out yesterday. 53% of americans would blame republicans if we go over the cliff. only 26% would blame president obama. >> yeah. >> what do we knew about polling? that there are 20% of americans that will always side with republicans. george bush left office with a 20% hard-core approval rating. the iraq war seven years in had a 20% approval rating. so obviously it's that 20% that's blaming the president. >> exactly. carl fritsche here with us a
the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch...
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if they do nothing, if no law passes, they go over the fiscal cliff. >> that raises the issue. you are talking what a disaster the medicare eligibility portion of this would be, do you look at the compromise of 37%, if you could get something more favorable on medicare, would you say going up to 37% instead of 39.6 is enough? >> no. look, there was a tax plan and we looked at the discussion of keeping the rates at the level and reforming the tax code and dealing with deductions. the truth is, if you want to have significant deficit reduction, which republicans are arguing for and you want to stabilize the debt, we need significant revenue. we need to -- the real challenge we have is we are not raising revenue. it's at the lowest levels it's been in decades. the fairest and best way to do that is move from 35 to 39.6%. go back to the clinton levels. we have this level in 2000, from '93 to 2000. we had great growth. we looked at the issue. we have bob on our plan. the reason we have that is because we recognize this argument republicans have made, which is that raising the rates
if they do nothing, if no law passes, they go over the fiscal cliff. >> that raises the issue. you are talking what a disaster the medicare eligibility portion of this would be, do you look at the compromise of 37%, if you could get something more favorable on medicare, would you say going up to 37% instead of 39.6 is enough? >> no. look, there was a tax plan and we looked at the discussion of keeping the rates at the level and reforming the tax code and dealing with deductions. the...
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the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the deficit at all, and that's social security. so before we even get into this discussion tonight, let's just understand or anybody that cares to take on this issue that in dealing with the fiscal cliff, social security is not the problem. the deficit is not caused by social security. social security has never been and in its present form, will not be part of the deficit issue. it's separate and apart. it is a special program. has its own source of revenue. has its own trust fund and isn't running the deficit at all a
the fiscal cliff. oh my goodness, the fiscal cliff is now just -- wow, 20 days away. so what are we going to do? some have suggested that we really have to deal with entitlements. and i'm here to agree that we can and we should deal with entitlements. certainly two of those issues, which i really don't think we ought to call entitlements but are fundamental programs here in america for americans, should be dealt with. one that some people want to put on the table really doesn't deal with the...
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. >> the longer the white house slow walks this discussion, this economy gets to the fiscal cliff and the more american jobs are placed in recession. >> if something goes wrong, the fed has no arrows left in its quiver. >> we're checking our lists as the "squawk on the street" countdown to christmas continues. ho, ho, ho. ♪ >> andrew ross sorkin is bringing lloyd blankfein on stage. let's take a look. here's goldman sachs ceo lloyd blankfein. >> a number of people have touched on the fiscal cliff, and i wanted to start with that, but in a different way with you this morning, in that you have been active in washington over the past couple of weeks and all this. you've been on the phone with the white house. i've read reports that you were on the phone with the white house earlier this week. just if you could, take us behind the scenes. what goes on on these conference calls with the business community? sort of what do you see actually happening right now? >> i don't want to oversell this. i was on a couple of conference calls that the white house had with myself and other people who
. >> the longer the white house slow walks this discussion, this economy gets to the fiscal cliff and the more american jobs are placed in recession. >> if something goes wrong, the fed has no arrows left in its quiver. >> we're checking our lists as the "squawk on the street" countdown to christmas continues. ho, ho, ho. ♪ >> andrew ross sorkin is bringing lloyd blankfein on stage. let's take a look. here's goldman sachs ceo lloyd blankfein. >> a...
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Dec 12, 2012
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. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the last debt ceiling bill -- i did not vote for the budget control act, and because it did not address the real problem, and that is spending. if you look at the debate, it is mostly a debate about how much in taxes to raise, and the president keeps moving the goal post. he keeps adding more to it. he has an insatiable appetite to spend money and attack other people for it. we are not talking about addressing the real problem. i do not think anybody's taxes should go up. barack obama said three years ago, if you raise taxes in a bad economy, it will make things wors
. >> something on all of our minds is the fiscal cliff. i would be remiss if i did not ask you both to weigh in on it in the following way. first, what is going on that we do not understand? number two, what should happen? number 3, what is the rsc going to do to help us get to that sector state, and what should happen? either of you want to chime in on that? >> first of all, if you look at where we are right now, and because of a number of reasons, a few of them going back to the...
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Dec 11, 2012
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the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of the news that the chemical giant will issue a $1 billion buyback program and updating its 2012 guidance to the top of the range. chairman and ceo ellen coleman joins me now in a cnbc exclusive. thanks for joining us. >> great to see you as well. >> let me start with the announcement on the share buyback. all we talk about is the idea that taxes are probably going to go higher. you've got dividend taxes probably going to go higher in 2013 as well as capital gains taxes. what motivated a buyback versus a -- a larger dividend or a special dividend as we've been hearing from so many companies today trying to get ah
the fiscal cliff was meant to be something nobody wanted to go another and here we are about to go off it. we really need our elected officials to figure this out and come up with a reasonable compromise that keeps our economy growing and gives us certainty about the future so that we can make our plans as business leaders. >> welcome back to the special edition of the "closing bell." dupont stock on the move. 1.5% higher in the after-hours trading session coming on the heels of...
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. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama right now is i think on the road in detroit. gave a speech today about the economy. but you're seeing a little bit less of the sort of back and fort we saw a weeking a with tim geithner putting out a plan and republicans releasing a letter publicly. i think negotiations of this kind best if they're happening without a lot of the public political posturing. i think that's the direction you have seen things go in the last few days so i'm hoping that's a good sign for things and taken seriously. >> i hope you're right. it is childish, i think. finally for you, gary. this ongoing battle blowing
. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama...
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Dec 7, 2012
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he's taking his fiscal cliff case on the road. you're watching "hardball," the place for politics. suddenly, she does something unexpected and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with cialis. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or if you have any aller
he's taking his fiscal cliff case on the road. you're watching "hardball," the place for politics. suddenly, she does something unexpected and you see the woman you fell in love with. she's everything to you. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and...
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something called the fiscal cliff, which i know you have been watching. you're very closely aligned with president obama having been the chair of the democratic national convention in september. i want to get your take on this. this is critical to your state. businesses in your state. taxpayers in your state. do you have any optimism that we may not go off the cliff? >> i do have optimism. there's no question about it. i think both sides understand that it's not in the nation's best interest for us to go off this cliff. people are tired of the partisanship. they want both sides to work together. they want them to do so in a balanced way. i agreed to join the stirring committee to fix the debt coalition and i have because the balance is that we have to make spending cuts. we have to address entitlements but we also have to make sure that we have the revenues that we need to make the investments that we need. education. infrastructure. transportation. research and development. workers training. all of those things are important things that we have to do. we
something called the fiscal cliff, which i know you have been watching. you're very closely aligned with president obama having been the chair of the democratic national convention in september. i want to get your take on this. this is critical to your state. businesses in your state. taxpayers in your state. do you have any optimism that we may not go off the cliff? >> i do have optimism. there's no question about it. i think both sides understand that it's not in the nation's best...
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Dec 5, 2012
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the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be? it's an eye of the beholder moment and when you talk about a lame duck congress, here we are with many of these members waiting to have their new colleagues come in this january and tackle some of the big problems and looming deadlines. how do they shake it snout over time we have seen that the lake duck sessions are sometimes not very productive. not a lot going on. but we're certainly heavily focused on it in the last couple of weeks because of the huge problems that need to be tackled. one of the big issues is anybody really talking about what to do with the fiscal cliff other than news conference
the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be?...
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Dec 5, 2012
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want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a lot of treaties that have really pretty sounding name but the devil is in the detail. and i think that's what some of them felt when it came to this treaty. >> ana navaro and maria -- go ahead, maria, quickly. >> i hope ana is right and if republicans really want to do this right they will have another chance in the next congress and this is something where americans really need to step up. what happened yesterday was gop fear of the tea party. every single senator that voted against it was most likely up in 2014 except for one. >> okay
want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a...
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Dec 10, 2012
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i agree with senator schumer, we're not going to go over the fiscal cliff, to use that terminology, something will happen before year end. hopefully, a comprehensive package that solves our nation's problems and then, later, next year we deal with tax reforms in a revenue-neutral way. but i do not want to see us -- go ahead, i'll stop. >> chris: let me bring in senator schumer. and, this goes beyond simply the question of this deal. why should congress give up its constitutional authority over borrowing? you know, we looked at your record, when george w. bush was president, and you voted at least three times against increasing the debt limit. why would congress unilaterally give up that power? >> well the bottom line is, i think on debt ceilings, things have shifted. i don't agree with my good friend, bob corker on the issue. i think it shift the way it has on taxes and we just saw that. senator mcconnell put on the floor a resolution that said, it was his idea, not ours, that let the president raise the debt ceiling, after all it is money congress already spent, and, let congress, by 2/3, ov
i agree with senator schumer, we're not going to go over the fiscal cliff, to use that terminology, something will happen before year end. hopefully, a comprehensive package that solves our nation's problems and then, later, next year we deal with tax reforms in a revenue-neutral way. but i do not want to see us -- go ahead, i'll stop. >> chris: let me bring in senator schumer. and, this goes beyond simply the question of this deal. why should congress give up its constitutional authority...
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Dec 6, 2012
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cliff and they're notle to negotiate and put something on the table. we've put a good faith effort on the table and you know what, the president is the leatheaet lead. i expect him to be in washington rather than out campaigning. the campaigning is over. it's time to sit at the table with the leaders and that's what it's going to take. i'm very disappointing that's not happening. >> i want to play something that house speaker boehner had to say yesterday. >> the revenues we're putting on the table are going to come from guess who? the rich. now, there are ways to limb the deduction, close loopholes and have the same people pay more of their money to the federal government without raising tax rates. >> congresswoman, the "new york times" reporting today that boehner is enjoying the broadest support he has seen in two years but as you know, a lot of conservatives are very angry over his giving any ground on revenue. is the speaker's leadership still strong in your estimation? >> i think it is. and i know that it's a very tough position for our leader to
cliff and they're notle to negotiate and put something on the table. we've put a good faith effort on the table and you know what, the president is the leatheaet lead. i expect him to be in washington rather than out campaigning. the campaigning is over. it's time to sit at the table with the leaders and that's what it's going to take. i'm very disappointing that's not happening. >> i want to play something that house speaker boehner had to say yesterday. >> the revenues we're...
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anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one that is famous from all the anti-trust things back in the -- was that the '90s? >> the '90s, yeah. >> monti announcing he'll step down before his term ends. the decision comes after the party of sylvia berlusconi withdrew support for monti's government last week. berlusconi has indicated he will run for leadership again. cnbc's carolin roth will join us from italy with the latest in a few minutes. when i was over there, i had to have the -- all the political signs translated because there's a picture of monti sitting under a beach chair drinking a drink and all the text was send monti to the beach. they
anyway, you would be hard pressed to find something who sdn have aen opinion on the fiscal cliff. this weekend, the ahead of the imf said the united states is more vulnerable to its domestic trouble more than anything else happening in the eurozone. christine lagarde says a balanced approach is needed and she says don't kick the can down the road, which is rich coming from a european. >>> european trading the lower this morning. italy's prime minister mario monti, yes, the same one...
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Dec 5, 2012
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blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimistic outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one will focus on publishing with "the wall street journal" and other newspapers; the other will be its movie and television businesses. one of those new tv businesses could be a national sports cable channel. sports is one of the highest priced but most profitable programs to put on television. just consider that espn is a big contributor to the most profitable business unit at disney. rick horrow tonight goes "beyond the scoreboard." >> reporter: espn's sports media monopoly could be in jeopardy, as rupert murdoch's news corp reportedly is moving forward with plans
blames on advertiser concern over the fiscal cliff. pandora shares closed the regular session with a 5.5% gain. but after its pessimistic outlook, shares plunged 19% in extended hours trading, falling to around $7.70 per share. three of the five most actively traded exchange traded products were lower. the gainers were emerging markets and the russell 2,000 funds. and that's tonight's "market focus." >> susie: news corp is splitting into two companies. starting next year, one...
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. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on have to support increase in tax rates for the wealthy. of course you were playing a lot of clips from people open to compromise. it does seem to be the broad parameter that want a balanced deal. that's what john boehner and president obama are currently arguing about. par are it's interesting, mark. you and the team noted the confusion, if you want. maybe because of the leadership. the headlines and the ap has the headline fiscal cliffs appear to be stalled and the hill's headline edge towards the deal and deficit reduction negotiations. are both true? >> both are true and you
. >> house members are willing to compromise to avert the fiscal cliff. what are the people at home thinking of their actions. we have a pri view for a poll that debuts tonight. part of that is compromising what folks want to see from the lawmakers. >> a lot of americans want to see compromise. according to the poll, 65% want a compromise balanced deal to reduce the deficit. even if they have to reduce the entitlement program like medicare and social security and the republicans on...
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the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so, people were saying, what will mitt romney -- he's got a job. he's working at a marriott, ladies and gentlemen. working at a marriott. he's the guy that comes out to the pool and tells the kids to stop splashing. all right, kids. come on. hey, fellas. listen to me. settle down here. >> that could have been funnier. >> dave, call her. >>> that's what's making news in america this morning. >>> that's what's making news in america this morning. >> stay with us for "good captioned by closed captioning services, inc. >>> good friday morning. 4:30 a.m.. i'm eric thomas. >>> and i'm kristen sze. breaking
the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your...
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this could push the american economy off of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would take a big hit, but because of a windown in afghanistan some military leaders are asking for less than congress is willing to shell out. from 1990 to 1999 defense spending decreased by 1% a year. this weakened military is nonsense. jim we have like what 27,000 times to blow up the country with the next amount of nukes. >> and we still have massive armies in europe protecting them from a massive soviet union. >> yeah. >> korea is another issue -- we do need people there. >> stephanie: right, but he points out who is behind all of this fiscal cliff cage rattling. the rich and their f
this could push the american economy off of a fiscal cliff, am i missing something here? can it be such a bad thing. not really said the cbo. if congress extents current policy, the debt and deficit will increase slowing the economy and dramatically increasing interest costs. because of the deal congress and the president made last year it be result in across the board budget reductions, still there will be no decreases in social security, medicare and veteran's benefits. defense spending would...
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it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and argue back? i don't see it. >> well, i think early on, if you think about a year ago, a little over a year ago, the republicans had a better deal than what's put on the table now. they had a 3 1/2 ratio of spending cuts to tax increases. you're looking at best a 2-1, pure politics. so they've lost that part of the argument. you flip it over and i think these numbers that we're seeing this morning that we've all commented on -- and i happen to agree with steve and david's analysis that at the end of the day, we'll just extend the cuts for middle-class earners and raise it on the top e
it would be something like that. but remember, these guys hate the fiscal cliff. you know, it has caused this enormous problem. so the idea of setting up another fiscal cliff six months from now is pretty unappealing. but they'll have to go there. they just haven't quite figured out how to go there yet. >> harold, jump in. to an extent you'd feel the republicans are cornered on their position a bit, especially with this 2% in terms of raising tax rates? how do they get around this and...